NGL Energy Partners (NYSE:NGL) Shares Gap Down – What’s Next?

Shares of NGL Energy Partners LP (NYSE:NGL) gapped down before the market opened on Wednesday . The stock had previously closed at $4.68, but opened at $4.50. NGL Energy Partners shares last traded at $4.66, with a volume of 168,749 shares changing hands.

Analysts Set New Price Targets

Separately, StockNews.com raised NGL Energy Partners from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th.

NGL Energy Partners Stock Performance

The company’s 50-day moving average is $4.96 and its 200 day moving average is $4.71. The company has a market capitalization of $612.54 million, a PE ratio of -1.85 and a beta of 1.73.

NGL Energy Partners (NYSE:NGL) last issued its earnings results on Monday, February 10th. The oil and gas company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.25). NGL Energy Partners had a negative return on equity of 29.77% and a negative net margin of 3.57%. On average, analysts forecast that NGL Energy Partners LP will post -0.22 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO H Michael Krimbill bought 15,000 shares of NGL Energy Partners stock in a transaction that occurred on Thursday, February 13th. The stock was bought at an average cost of $4.49 per share, with a total value of $67,350.00. Following the acquisition, the chief executive officer now owns 603,000 shares of the company’s stock, valued at $2,707,470. The trade was a 2.55 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Hedge Funds Weigh In On NGL Energy Partners

A number of hedge funds have recently made changes to their positions in NGL. XTX Topco Ltd bought a new position in NGL Energy Partners in the 3rd quarter worth approximately $46,000. Raymond James Financial Inc. bought a new position in shares of NGL Energy Partners during the fourth quarter worth $55,000. one8zero8 LLC purchased a new position in NGL Energy Partners during the fourth quarter valued at $58,000. Two Sigma Securities LLC purchased a new stake in NGL Energy Partners in the 4th quarter worth $59,000. Finally, Mercer Global Advisors Inc. ADV bought a new position in shares of NGL Energy Partners during the 4th quarter valued at about $61,000. Institutional investors own 40.62% of the company’s stock.

NGL Energy Partners Company Profile

NGL Energy Partners LP engages in the transportation, storage, blending, and marketing of crude oil, natural gas liquids, refined products / renewables, and water solutions. The company operates in three segments: Water Solutions, Crude Oil Logistics, and Liquids Logistics. The Water Solutions segment transports, treats, recycles, and disposes produced and flowback water generated from oil and natural gas production; aggregates and sells recovered crude oil; disposes solids, such as tank bottoms, and drilling fluid and muds, as well as performs truck and frac tank washouts; and sells produced water for reuse and recycle, and brackish non-potable water.